Plans have been scrapped for a planned 25-story luxury apartment complex known as SkyHouse Cincinnati on the Downtown riverfront.

Novare Group, the Atlanta-based developer, said rising construction costs and lackluster rents forced it to abandon the proposed $94 million project known as SkyHouse Cincinnati, Thornton Kennedy, a spokesman for Novare, confirmed Wednesday.

SkyHouse, which was originally expected to open next year, would have been the first high rise on the Ohio River here in nearly two decades.

Plans called for 352 apartments, 3,000 square feet of retail space and a 500-space parking garage on nearly 2.8 acres of land at 601 E. Pete Rose Way.

The on-again, off-again project stalled in 2016 over similar cost concerns before Novare climbed back on board last May.

But Novare has already begun work on a similar project at the 242-acre Frisco Station development in Frisco, Texas.

Plans for SkyHouse Frisco Station also call for a 25-story luxury apartment high-rise with 352 units.